BMR New Ownership Listing: 99 Rausch, 99 Rausch Street

Posting date

 

March 1, 2018  **Updated May 14, 2018**

Program

Inclusionary Housing Below Market Rate (BMR) Program

 

Type of unit

Condo

Name of building

99 Rausch

Address (including city/state/zip code)

99 Rausch Street

San Francisco, CA 94103

Unit Numbers

13 BMR Units:

2 – studio

6 – one bedroom

5 – two bedroom

Number of bedrooms

Studios: 201, 301

One bedroom: 102, 215, 221, 309, 403, 421

Two bedroom: 116, 210, 316, 318, 418

Number of bathrooms

1 and 2 bathrooms

One bathroom: 201, 210, 301, 102, 215, 221, 309, 403, 421

Two bathroom: 116, 316, 318, 418

Square footage

Studios: 417 sq. ft.

One-bedroom: 601 sq. ft. - 656 sq. ft.

Two-bedroom: 895 sq. ft. - 935 sq. ft.

Year built

2018

Neighborhood Name

South of Market

Supervisorial District

District 6

 

Sales Price

 

Bedroom Count

BMR Unit #

Price w/o parking

Price w/one parking space

0

201

$247,184

$298,216

0

301

$247,184

$298,216

1

102

$287,516

$338,548

1

403

$287,331

$338,363

1

309

$284,417

$335,449

1

215

$287,331

$338,363

1

221

$287,702

$338,734

1

421

$287,826

$338,858

2

210

$319,910

$370,942

2

116

$321,398

$372,430

2

316

$319,105

$370,137

2

418

$318,918

$369,950

2

318

$318,918

$369,950

 

 

Monthly Homeowner Association (HOA) Dues

 

Bedroom Count

BMR Unit #

Final Monthly HOA Amount without Parking

Final Monthly HOA Amount with Parking

0

201

$520.39

$578.39

0

301

$520.39

$578.39

1

102

$584.77

$642.77

1

403

$583.07

$643.79

1

309

$601.80

$659.80

1

215

$585.79

$643.79

1

221

$583.75

$641.75

1

421

$583.07

$641.07

2

210

$691.40

$749.40

2

116

$683.22

$741.22

2

316

$695.82

$753.82

2

418

$696.85

$754.85

2

318

$696.85

$754.85

 

What the HOA dues cover

Water, gas, common area maintenance and cleaning, doorman 7 days a week from 7:30am – 9:30pm, use of all amenities, building insurance, and building management.

Covenants, Conditions & Restrictions (“CC&R’s”) for the building

To review the Covenants, Conditions & Restrictions for this building, click here https://www.dropbox.com/s/bktx63wrtcbkuz9/Recorded%20CC%26Rs%202017-K532016-00.pdf?dl=0

Parking

9 parking spaces available to 13 BMR buyers by lottery rank for the higher sales price noted above.

 

Parking spaces will be resold with the unit within the maximum resale price.

 

Area Median Income for Pricing Unit

90% of Area Median Income (AMI)

 

Area Median Income  for Qualifying for Unit

100% of Area Median Income (AMI)

Maximum Allowable Income Levels

Maximum household income must not exceed the following amounts by household size:

 

100% of Maximum Income by Household Size derived from the Unadjusted Area Median Income (AMI) for HUD Metro Fair Market Rent Area (HMFA) that contains San Francisco 2017

Household Size

Maximum Income at 100% of AMI

1

$80,700

2

$92,250

3

$103,750

4

$115,300

5

$124,500

6

$133,750

7

$142,950

(Households must be at least as many people as bedrooms in the unit. Please visit www.sfmohcd.org for larger households.)

 

Appliances

Refrigerator, gas range, oven and dishwasher.

Amenities

Owners lounge, meeting room, package room, gym, yoga area, outside podium, rooftop deck with BBQ grills, fireplace, rooftop TV, and outside seating areas.

Date on which BMR unit(s) can be occupied by owner

April 1, 2018

Other qualification notes

All potential buyers must review the 2013 Inclusionary Affordable Housing Program Monitoring and Procedures Manual that governs this property.  Buyers will sign an acknowledgement that they have read and understood this document when purchasing a BMR unit.

 

Applicants must secure a loan preapproval and a final loan through a MOHCD Participating Lender who have an “X” marked under BMR.

 

All titleholders must complete a first-time homebuyer workshop through one of the City’s 5 approved first-time homebuyer counseling agencies in order to apply. Please visit http://homeownershipsf.org/workshops for a schedule of upcoming classes. 

 

Verification of Homebuyer Education Completion from a MOHCD approved first-time homebuyer workshop is required.  Verification of Homebuyer Education Completion is valid for 1 year from the date of issuance.

A copy of the mortgage loan pre-approval and homebuyer counseling form for every adult household member on loan and title to the BMR unit must be included with the BMR application.

 

Applicants are encouraged to apply for downpayment assistance through a MOHCD approved lender and may be eligible for the following programs.

 

 

 

  • Mortgage Credit Certificate (MCC): A mortgage credit to assist first-time homebuyers. There is an application fee if applying for MCC.

 

  • Federal Home Loan Bank’s WISH program provides up to $15K in matching funds for down payment assistance.  Please ask your mortgage lender for more information.

 

All MOHCD Participating Lenders should explore these options with BMR buyers.

Households must be as many people (or more) as number of bedrooms in the unit to apply.

See other qualification rules in the City and County of San Francisco Inclusionary Affordable Housing Program Monitoring and Procedures Manual 2013.

Contact person (realtor/sales agent)

For applications or qualification questions, please contact one of the five HomeownershipSF housing counseling agencies listed here: http://homeownershipsf.org/workshops or to HomeownershipSF at (415) 202-5464 or info@homeownershipsf.org.

 

For questions regarding the building, please contact a Sales Agent at 415-323-4058 or info@99Rausch-BMR.com.

 

Phone

415-323-4058

Email

info@99Rausch-BMR.com

Website

www.99Rausch-BMR.com

Realtor commission

No Realtor commission offered. The sales agent will act as a dual agent to both the buyers and seller. All BMR Applicants must work with one of the five approved housing counseling agencies named above to submit an application for this BMR opportunity.

How to obtain an application

Applications can be downloaded from www.homeownershipsf.org or from the MOHCD website by clicking here.

If you need application assistance or information about available housing resources, please refer to the organizations listed in the SF Housing Resource Guide by clicking here.

Address to which application should be mailed or delivered

Complete BMR lottery applications can only be submitted by attending an individual Application Review Appointment or Application Drop-in Clinic at the counseling agency where you completed your Homebuyer Education. Please contact your housing counseling agency as soon as possible to ensure your application is complete and submitted prior to the designated deadline. The five housing counseling agencies are listed below:

Asian Inc.http://www.asianinc.org/

1167 Mission St, San Francisco, CA 94103

(415) 928-5910

 

Balance (formerly CCCSSF)www.balancepro.org

1390 Market Street, Suite 200, San Francisco, CA 94102

(415) 788-0288 x483

 

MEDA -  http://medasf.org/

2301 Mission #310, San Francisco CA 94110

(415) 282-3334 x101

 

SFHDChttp://sfhdc.org

4439 Third Street, San Francisco, CA 94124

415-822-1022

 

SFLGBThttp://www.sfcenter.org

1800 Market St., San Francisco, CA 94102

415-865-5655

 

To see the calendar of Application Drop in Clinics, please visit www.homeownershipsf.org

Should you have any difficulty signing up for an Application Review Appointment, need in language assistance or other accessibility accommodations, please contact HomeownershipSF at info@homeownershipsf.org or (415)202-5464.

Application Deadline

April 16, 2018 at 5pm

 

Applications must be received in paper form (no faxes or emails) by 5pm on the date of the deadline. Postmarks will not be accepted. Applications received after the application deadline will not be accepted.

Open houses

Saturday, March 10, 2018, from 9:00 am to 11:00 am

Monday, March 12, 2018, from 5:00 pm to 7:00 pm

Saturday March 17, 2018, from 9:00 am to 11:00 am

 

Information session(s)

 

Date: March 7, 2018

Time: 5pm

Location: Mayor’s Office of Housing and Community Development

1 South Van Ness Avenue, 5th Floor

San Francisco, CA 94103

Lottery date, time and location

PDF icon99 Rausch Final Lottery Rank Results 5.14.18.pdf

Date: May 8, 2018 

Time: 3:30pm

Location: Mayor’s Office of Housing and Community Development

1 South Van Ness Avenue, 5th Floor

San Francisco, CA 94103

 

Applicants do not need to be present at the lottery. Lottery results will be posted here within one week of the lottery.

Lottery preferences

All individuals and households may enter the lottery for a BMR unit.

 

However, those households in which one member holds a Certificate of Preference (COP) from the former San Francisco Redevelopment Agency will be given highest preference in the lottery ranking process. More information about the COP Program can be found here: http://sfmohcd.org/certificate-preference.

 

Households in which one member holds a Displaced Tenant Housing Preference (DTHP) Certificate from the Mayor’s Office of Housing and Community Development will be given second highest preference in the lottery ranking process, for up to 20% of the units in projects (2 units). DTHP certificate holders will also be included in the live/work preference regardless of their current live/work location. More information about the DTHP Program can be found here: http://sfmohcd.org/displaced-tenant-housing-preference-program-0.

 

Households that submit acceptable documentation that at least one member lives in the same supervisorial district or within a half-mile of the project will be given the third highest preference in the lottery ranking process under the Neighborhood Resident Housing Preference (NRHP). The NRHP applies to up to 40% of the units in projects (5 units). The NRHP status of all applicants will be listed on this posting one week prior to the lottery. More information about the NRHP Program can be found here: http://sfmohcd.org/neighborhood-resident-housing-preference. For NRHP applicant list, click here,  PDF icon99 Rausch NRHP Applicant Final List - 5.1.18.pdf

 

Households that submit acceptable documentation that at least one member lives or works in San Francisco will be given the fourth highest preference in the lottery ranking process.

 

If the number of units available exceeds the number of qualified applicants in the above listed preference, the units will become available to other qualified applicants outside of San Francisco. Applicants in each preference category must meet program requirements in order to complete the sale or rental.

 

For more information about the lottery process and housing preferences, please refer to the MOHCD Housing Preferences and Lottery Procedures Manual.

Special note(s)

 

Inspired by the Mid-Market renaissance, 99 Rausch is a condominium community with state-of-the art amenities and environmentally stainable features in the creative heart of San Francisco.